With a market cap of $9.6 billion, BXP, Inc. (BXP) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, with a 50.4 million-square-foot portfolio spanning key gateway markets including Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. It is recognized for its high-quality office and mixed-use developments, strong in-house management expertise, and long-standing commitment to sustainability and responsible growth.
Shares of the Boston, Massachusetts-based company have lagged behind the broader market over the past 52 weeks. BXP stock has declined 7.3% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 28.2%. Moreover, shares of the company are down 11.3% on a YTD basis, compared to SPX’s 9.4% rise.
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Zooming in further, the REIT’s underperformance becomes more evident when compared to the State Street Real Estate Select Sector SPDR ETF’s (XLRE) 9.6% gain over the past 52 weeks.
www.barchart.com BXP reported stronger-than-expected Q1 2026 results on Apr. 28, with EPS of $0.64 exceeding guidance and net income rising to $101.6 million, driven primarily by gains from asset sales and better-than-expected portfolio performance. The company also executed more than 1.1 million square feet of leases during the quarter, increased total portfolio occupancy by 70 basis points to 87.4%, and raised its leased percentage to 90.9%, with approximately 1.6 million square feet of signed leases expected to commence through 2026.
In addition, BXP increased its full-year 2026 guidance to EPS of $2.15 - $2.29 and FFO of $6.90 per share - $7.04 per share. However, the stock fell 2.6% the next day.
For the fiscal year ending in December 2026, analysts expect BXP’s FFO per share to decrease 99.3% year-over-year to $6.96. The company’s earnings surprise history is mixed. It beat the consensus estimates in three of the last four quarters while missing on another occasion.
Among the 23 analysts covering the stock, the consensus rating is a “Moderate Buy.” That’s based on 10 “Strong Buy” ratings and 13 “Holds.”
www.barchart.com On May 18, Barclays analyst Brendan Lynch cut the price target for BXP to $65 and maintained an “Overweight” rating.
The mean price target of $68.10 represents a 13.6% premium to BXP’s current price levels. The Street-high price target of $84 suggests a 40.1% potential upside.
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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